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Company and markets the balls under the Devlin brand name. Devlin started operations on lon, a diversified distribution company, purchases cartons of canned tennis ba
Company and markets the balls under the Devlin brand name. Devlin started operations on lon, a diversified distribution company, purchases cartons of canned tennis ba he table below, Quarter 1 represents the time period from January 1, 2020 to March 31, 2020 ats the time period from April 1, 2020 to June 30, 2020. Devlin began operations on Jan NG INFORMATION TO ANSWER QUESTIONS 19 - 22 and sales data for Devlin's first two quarters of business are shown below: ventory uarter 1 ales urchases January February March uarter les Lurchases 76,000 cartons at $5.00 per carton 3 18,000 cartons at $2.20 39.6 30,000 cartons at $2.40 - 1,7 40,000 cartons at $2.80 = 112, 53 86,000 cartons at $6.00 per carton = 5 April 26,000 cartons at $3.10 May 30,000 cartons at $3.50 = 105, June 24,000 cartons at $3.60 86 ate the Quarter 2 ending inventories (in dollars) using the LIFO inventory valuation me ate Quarter 2 GROSS PROFIT using the LIFO inventory valuation method. ate the Quarter 2 ending inventories (in dollars) using the FIFO inventory valuation m ate Quarter 2 GROSS PROFIT using the FIFO inventory valuation method
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